L&T Finance Holdings Ltd. is a NSE and BSE listed company and is also registered with RBI as an NBFC and CIC. It conducts its financial services businesses through various subsidiaries. L&T Financial Services is the brand name of L&T Finance Holdings Ltd.
To be an admired and inspirational financial institution, creating sustainable value for all our stakeholders.
- L&T Financial Services has been recognized as the most Socially Aware Corporate of the Year by the Business Standard Social Excellence Awards 2019, for the scale and gender-inclusive work of its digital-literacy initiative in rural India, Digital Sakhi
- L&T Finance Holdings and all its lending subsidiaries have AAA rating assigned/reaffirmed by CRISIL, India Ratings, ICRA and CARE, despite the environment of multiple downgrades across the sector.
- L&T Finance Limited announced the Public Issue of Secured Redeemable Non-Convertible Debentures (Secured NCDs) which was oversubscribed 4.45 times of the base issue size (Rs. 500 crore)
- L&T Finance Limited announced Tranche 2 of Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) which was oversubscribed 6.48 times of the base issue size (Rs. 500 crore)
- L&T Finance Launches ‘Sabse Khaas Loan' for Two-Wheeler Customers L&T Financial Services Launches „Digital Sakhi‟ in Tamil Nadu
- IFC leads $550 million ECB investment round in L&T Finance L&T Finance Limited announces Tranche I of Public Issue of Secured Redeemable Non Convertible Debentures (Secured NCDs) which was oversubscribed 3.01 times of the base issue size (Rs. 500 crore)
- The CII National HR Circle Competition 2018 winner for "Management of Change & Excellence in HRM"
- Asian Centre Awards for "Best Audit Committee"
- LTFH and its subsidiaries’ credit ratings upgraded to AAA by ICRA
- L&T Finance (LTF) opened its 1000th meeting center in Kolkata, West Bengal, for its Micro Loans business
- L&T Finance Holdings featured in the Forbes India's Super 50 Companies 2018
- FINNOVITI 2018 Award for “SANGAM”, an Innovation in the Two-wheeler business
- Wholesale Finance and Infrastructure Debt Fund business won 3 awards at "The Asset Triple A Asia Infrastructure Awards 2018" for Infrastructure Fund Deal of the Year, Airport Deal of the Year and Private Equity M&A Deal of the Year
- LTFH 2.0 Re-defined. Stock Price reaching an all-time high of Rs. 200 and ROE of 13.63%
- Expanding our footprint by commencing our Micro loans business in Assam
- Awarded the "Best Finance Company in Renewable Energy" at the annual "Central Board of Irrigation & Power Awards"
- Crossed the 50,000 cr. AUM mark in the Mutual Funds business
- Re-orient strategy to focus on select products and deliver improvement on RoE
- Total Assets cross Rs. 50,000 Cr.
- Preferential issue of Equity Shares & Warrants to Bain Capital amounting to Rs. 708 Cr
- Maiden issue of preference shares
- Total Assets cross Rs. 30,000 Cr.
- MF builds scale – acquisition of Fidelity’s MF biz in India
- Entry into Housing Fin – acquisition of IPHF
- Start of 2W Finance – acquisition of FamilyCredit
- Total Assets cross Rs. 20,000 Cr
- IPO of LTFH
- LTIF notified as PFI
- Foray into MF business – acquisition of DCAM
- LTIF secures IFC status, launches Infra Bonds
- Maiden public issue of NCDs by LTF
- Total Assets cross Rs.10,000 Cr
- Start of Microfinance & Loan Against Shares
- L&T Infra Finance established
- CV Financing commenced
- L&T Finance Incorporated
Board of Directors
Mr. S V Haribhakti
Non - Executive Chairman
Mr. Shailesh Haribhakti is the Non-Executive Chairman of the Company. He is a Chartered and Cost Accountant, and a Certified Internal Auditor, Financial Planner & Fraud Examiner.
During a career span of four decades, he has successfully established and led many innovative services. His current focus and passion is on Governance, Engaged Investing and Digitisation. He actively promotes 'shares value' creation and a greener environment.
He is also on the Board of Directors of several public and private companies.
Mr. Dinanath Dubhashi
Managing Director & Chief Executive Officer
Mr. Dinanath Dubhashi is the Managing Director & CEO of L&T Finance Holdings Ltd. (LTFH).
With a rich experience of over two decades, he has worked in multiple domains of financial services such as corporate banking, cash management, credit rating, retail lending and rural finance.
He has been with L&T Financial Services since 2007 and has been instrumental in scaling up the retail business operations manifold, across customer segments and geographies. The strategy roadmap defined under his leadership has transformed LTFH into an organization focused on creating sustainable value for shareholders through an increase in retailization of the loan book, robust risk management framework that delivered consistent top quartile return on equity through decisive strategic choices in businesses.
He has been focusing on the creation of a stable and sustainable organization, built on a foundation of ‘Assurance’ for all stakeholders.
Prior to L&T Financial Services, he was associated with organizations such as BNP Paribas, CARE Ratings and SBI Capital Markets in various capacities.
Mr. Dubhashi has also been co-chairing the FICCI Committee on NBFCs since 2018 and was recently named the “DX CEO” for ‘Transforming financial services delivery with digitization’ at the IDC Digital Transformation Awards India, 2020.
He is a Postgraduate from IIM Bangalore and holds a B.E.(Mechanical) degree.
Mr. R Shankar Raman
Mr. R Shankar Raman is the Chief Financial Officer and Member of the Board at Larsen & Toubro Limited (L&T). He is a Non-Executive Director on the Board of our company and L&T Investment Management Limited. He is also on the board of several companies within the L&T Group. He joined the L&T Group in 1994 to set up L&T Finance Limited and has close to 35 years of experience in Finance and Management.
He is a Chartered and Cost Accountant by profession with a degree in
Commerce from Madras University.
Mr. P V Bhide
Mr. P V Bhide has worked in several government positions during a career spanning over four decades. Some of his roles include Secretary, Department of Revenue, Ministry of Finance; Secretary and Joint Secretary, Department of Disinvestment, Ministry of Finance; Additional Secretary/Spl. Secretary, Ministry of Home Affairs; Deputy Secretary, Department of Economic Affairs, Ministry of Finance. He has also held various other key positions across departments.
He is a retired IAS Officer with an MBA, LLB and BSc
Mr. Thomas Mathew T
Thomas Mathew T. has over four decades of strategic leadership and operational experience in the Life Insurance & Reinsurance industry. He was the Managing Director and Interim Chairman of L.I.C. He was also India MD & CEO of 'Reinsurance Group of America'. He was nominated by SEBI as the Chairman of the Metropolitan Stock Exchange of India. He has served as Director on the Boards of Mahindra & Mahindra Limited, Tata Power Co. Limited, Voltas Limited, IFCI Limited and Corporation Bank. He was a member on the Governing Council of the MDI, Gurgaon, Actuarial Institute of India & Chairman of The National Insurance Academy, Pune.
He is a Director on the Boards of PTC India Financial Services
Limited, Canara HSBC OBC Life Insurance Company, LIC (International) B.S.C.(c), Bahrain and subsidiaries of the
Company. He is also member of the 'Take Over Panel' of SEBI.
Ms. Nishi Vasudeva
Ms. Nishi Vasudeva is an internationally acclaimed leader and is the first woman to chair an oil and gas company in India.
Ms. Vasudeva represented HPCL as Chairman / Director on the board of several Joint Venture companies. Ms. Vasudeva was responsible for developing the vision and long term objectives, improving growth and profitability, driving a high performance culture geared towards operational excellence and consistent value creation for shareholders & all stakeholders.
Prior to assuming responsibility as C&MD, Ms. Vasudeva served on HPCL Board as Director-Marketing and was responsible for pan India sales (B2B & B2C segments), Brand building, Efficient supply chain management, Infrastructure development and leading HPCL foray into new business lines.
Her career at HPCL included leadership positions in Marketing, Corporate Strategy, Planning and Information systems and has led key business transformation & organizational restructuring projects.
Ms. Vasudeva is the first Indian to be awarded the Global CEO of the year at Platt’s Global energy awards 2015. Ms. Vasudeva received the SCOPE Award for excellence and outstanding contribution to Public sector Management from the Hon’ble President of India and was also recognized with Outstanding Women Manager Award by SCOPE.
Ms. Vasudeva has been a member in several committees for development of policy in the Oil Industry and Hydrocarbon sector in India.
Ms. Vasudeva is BA (Economic Honours) from Delhi University and an
MBA from IIM Calcutta with over 38 years of experience in the petroleum industry.
Dr. (Mrs.) Rajani R. Gupte
Dr. Rajani R. Gupte had done Ph. D in Economics from Gokhale Institute of Politics and Economics, Pune University, on the topic "The impact of trade liberalisation on the level of protection of Indian Industry".
Currently, Dr. Gupte is the Vice Chancellor of Symbiosis International University, Pune. During the period 2004-2012, she had also served as a Director of Symbiosis Institute of International Business (SIIB). She was actively involved in establishing SIIB as one of the leading B-Schools in India.
In the past, she has also worked as Director-Finance, in a Private Limited Company, wherein she has handled Finance operations seamlessly.
She had earlier served as a Dean and Pro Vice Chancellor of Symbiosis
International University. She had also served as member WTO committee, Government of Maharashtra, Department of
Horticulture during the period 2002-06. She was invited to be a part of a committee of eminent economists formed
by NITI Aayog to interact with the Honourable Prime Minister on "Economic Policy: The Road Ahead" in
Mr. Prabhakar B.
Mr. Prabhakar B., is a commerce graduate from the University of Mysore and a Chartered Accountant. He retired as Chairman and Managing Director of Andhra Bank in August 2013 after serving various banks for about 37 years. Prior to that, he had served as the Executive Director of Bank of India for a period of a little over 3 years from October 2008 to December 2011. Before that, he had served with Bank of Baroda from October 1977 to October 2008 having worked in all areas of banking. He also worked abroad for about eight years in stints at Zambia and U.K. He was the Chief Executive of Bank of Baroda, UK operations.
Mr. Prabhakar B. has served on various Boards representing the
Banks he had worked with. He was the Chairman of Bank of India (Tanzania) and Bank of India (Indonesia). He
was also on the Board of Star Union Daichi Insurance Ltd, India International Bank (Malaysia) and
ASREC India Ltd.
Mr. Pavninder Singh
Mr. Pavninder Singh is a Managing Director with Bain Capital in the Mumbai office. He joined the firm in 2001 and has worked in the New York and Mumbai offices. He is a founding member of Bain Capital's India office and he co-leads the firms India and South East Asia investments. Prior to joining Bain Capital, he was the Co-CEO of Medrishi.com, a healthcare services site. Prior to that, he was a consultant at Mercer Management Consulting (now Oliver Wyman) where he consulted in the e-commerce, retail, and energy industries.
He is actively involved in the investments in L&T Finance Holdings Limited, Quest Engineering, Emcure Pharmaceuticals, Hero FinCorp and Himadri Chemicals & Industries Ltd.
He received an MBA from Harvard Business School where he was a Baker Scholar. He received a BA Magna cum Laude from Harvard College.
Mr. Dinanath Dubhashi
Managing Director & Chief Executive Officer
Mr. Dinanath Dubhashi is the Managing Director & Chief Executive Officer of L&T Finance Holdings Ltd. (LTFH). With a rich experience of over two decades, he has worked in multiple domains of financial services such as Corporate Banking, Cash Management, Credit Rating, Retail Lending and Rural Finance. He has been with L&T Financial Services since 2007 and has been instrumental in scaling up the retail business operations manifold, across customer segments and geographies.
Under his leadership, LTFH has been transformed into an organization focused on creating superior shareholder value through a sustained increase in Return on Equity (RoE), through decisive strategic choices in businesses, structures and people. Prior to LTFS, he was associated with organizations such as BNP Paribas, CARE Ratings and SBI Capital Markets in various capacities.
He is a Post Graduate from IIM Bangalore and also holds a B.E.
Mr. Sunil Prabhune
Chief Executive– Rural & Housing Finance and Group Head
– Digital, IT & Analytics
Mr. Sunil Prabhune is the Chief Executive of Rural & Housing Finance and Group Head - Digital, IT and Analytics. Rural Finance vertical comprises of Micro Loans, Farm Equipment Finance, Two Wheeler Finance and Consumer Loans.
A harbinger of change, Mr. Prabhune has guided the Farm Equipment Finance business towards enhanced loan book quality, reduced NPAs, and a strong collection infrastructure. Digitisation of the credit process has enabled the Two-Wheeler Finance business to become a leader in multiple geographies.
Mr. Prabhune’s ability to focus on the details, while keeping an eye on the larger picture, has helped him in realigning the Micro Loan business and increasing its national footprint. With his guidance, Rural Finance has added Consumer loans, a fully digital proposition, to its product portfolio and the product is steadily scaling up. Under his leadership, the Rural Finance business has evolved into a market leader in multiple segments and geographies.
In his capacity as the Group Head - Digital, IT and Analytics, Mr.Prabhune’s focus is on further enhancing organisational efficiency and customer experience. Additionally, Mr. Prabhune also leads various inorganic growth initiatives of the organisation, in line with the strategy of driving the retailisation of the portfolio.
Mr. Prabhune plays a pivotal role leading the Strategic Cost optimisation drive across LTFS, which has helped the organisation become more competitive.
In his earlier role as the Chief Human Resource Officer at LTFS, Mr. Prabhune was instrumental in driving the transformational journey of organisational structure and skills, aligning these initiatives to focused execution and targeted RoEs.
He joined L&T Financial Services in 2013 and has more than two decades of experience in global and regional leadership roles across sectors, particularly in areas of organisational change, transformation management and building capabilities for leadership. He has also headed process efficiency and digitization in his previous roles and was associated in various capacities with organisations such as ICICI Bank, Novartis, GE, and ICI.
Mr. Prabhune is a Gold Medalist in Business Management from Xavier
Institute of Management, Bhubaneswar. He is an avid reader and a sports enthusiast.
Mr. Kailash Kulkarni
Chief Executive - Investment Management
In his current role at L&T Investment Management, Mr. Kulkarni is responsible for driving the overall business growth of the asset management company. He also leads the marketing initiatives for L&T Financial Services. Mr. Kulkarni took control at a time when the Group was in the midst of acquiring Fidelity Investments and led a seamless acquisition of the business. Under his leadership, L&T Investment Management has seen a tenfold rise in assets since 2012.
Mr. Kailash Kulkarni has over 25 years of work experience in financial services, most of which include heading sales functions of businesses across BFSI. Previously, he was the Head of Sales at Kotak Mahindra Asset Management. At MetLife India Insurance, Mr. Kulkarni set up and expanded the agency network. His journey in the BFSI space began with growing the third-party distribution network first for JM Financial and subsequently for ICICI Bank. He has also worked in Eicher Motors in distribution, sales and marketing functions.
He is a member of the SEBI Mutual Fund Advisory Committee and a part of the Financial Literacy Committee at AMFI. Mr. Kulkarni was also on the board of Association of Mutual Funds of India (AMFI).
Mr. Kulkarni is a management graduate from the Institute of Management Development and Research. He loves to travel around the world and is passionate about adventure sports.
Mr. Sachinn Joshi
Group Chief Financial Officer
Mr. Sachinn Joshi leads Finance & Accounts, Financial Planning & Analysis, Treasury, and Investor Relations functions as the Group Chief Financial Officer.
He has over 27 years of experience with expertise in finance and operations. These include setting up business & treasury operations, risk & credit control, human resource management, public listing, strategic planning and crisis management.
Previously, Mr. Joshi worked with Aditya Birla Finance as the Chief Financial Officer heading Treasury, Finance, Secretarial & Statutory Compliance, and Admin verticals. He was the Executive Director & CFO at Angel Group, heading strategy and finance. At IL&FS, he worked across various capacities including that of CFO, COO and Executive Director - Finance & Operations. In this role, he played pivotal role in setting up of wholesale and retail businesses at one of its subsidiary IL&FS Investsmart.
Mr. Joshi is a qualified Chartered Accountant and a Cost Accountant.
He has also done his post-graduation in Law and has completed Business Leadership Program from IIM Calcutta. He
is an avid runner and regularly participates in full as well as half marathons, loves travelling and watching
sports particularly cricket.
Mr. Raju Dodti
Chief Executive – Wholesale Finance
Mr. Raju Dodti is the Chief Executive – Wholesale Finance. He is responsible for driving the growth of the business
that focusses on providing financing solutions across marquee
infrastructure projects in roads, renewable energy and transmission. He also leads the Special Situations Group
which is involved in recovery and resolution of identified stressed assets, de-focused book and exit of private
Mr. Dodti joined LTFS in 2015 and has held key positions in legal and compliance. As the Group General Counsel of the company, he was instrumental in building the in-house practice group that dealt with advisory, transactional and litigation portfolio for the lending and non-lending businesses. In his capacity as Group Head of Compliance, he was primarily leading regulatory compliance including overseeing regulatory inspections. Mr. Dodti has also provided strategic direction & leadership to the Corporate Communications, Facilities & Channel Management functions of LTFS, in the past.
Prior to joining LTFS, he was with IDFC, Rabo India Finance, ABN AMRO NV, Societe Generale and Global Trust Bank, in varied roles across the legal function. With more than two decades of diverse experience across national and multi-national banks & financial institutions in private equity, project finance, infrastructure finance and treasury borrowings, Mr. Dodti has contributed extensively by maneuvering at the crucial junctures of the organizations’ legal commitments.
Mr. Dodti holds a Bachelor's degree in law from Government Law College, Mumbai University, and a Bachelor's degree in commerce from Mumbai University. He loves music, travelling and is a fitness enthusiast.
Mr. Shiva Rajaraman
Chief Executive - L&T Infra Debt Fund
Mr. Shiva Rajaraman is the Chief Executive Officer (CEO) of L&T Infra Debt Fund Ltd (L&T IDF), India’s leading Infrastructure Debt Fund, focussed on providing refinancing and credit enhancement solutions to private sector/ PPP projects.
He also heads the strategic initiatives function of the Wholesale business where he leads and takes overall responsibility for the conceptualisation, evaluation and development of feasible strategic initiatives, targeted at achieving accelerated balance sheet growth, increasing presence, and enhancing risk-adjusted return.
Previously at L&T Financial Services, he headed the Risk & Asset Management function and Project Finance for the South Zone, where he was involved in setting up the South Zone operations. Prior to that, he was employed with IDFC (now IDFC Bank) and the Equity Group of Dresdner Kleinwort Benson (now Commerzbank).
Mr. Rajaraman is a member of the Transport Infrastructure Committee at FICCI and a Director on the Board of Indian Highway Management Company Ltd (promoted by NHAI). He has 21 years of experience in infrastructure finance and advisory in India. In this period, he has contributed to and led the evaluation, advisory, structuring and financing for infrastructure projects through debt, equity and mezzanine finance.
Mr. Rajaraman is a management graduate from the Bharatidasan Institute of Management. He is an established subject matter expert and trainer in the field of infrastructure finance. He has a passion for teaching and conducts training programs for young professionals, senior government and RBI officials. He has a keen interest in history and enjoys playing chess.
Mr. Tushar Patankar
Chief Risk Officer
Mr. Tushar Patankar has 25 years of Corporate Banking & Risk Management experience across leading foreign and private banks, and NBFC. He brings with him the expertise and understanding of the various aspects of risk management including developing frameworks for Risk Approval, Early Warning System and Credit policy along with the experience of managing credit risks in corporate banking and SMEs. Mr. Patankar has a deep understanding of Business, Credit, Regulatory and Operational Risk and takes a special interest in framing efficient risk management processes through a blend of financial acumen and the use of data and analytics.
Previously, he was with Bajaj Finserv as the Chief Commercial Credit Officer & Head Commercial Lending Operations and with IDFC Bank, as the Head of Risk for the Wholesale, FIG, SME & Business Banking verticals. In his earlier stints, Tushar has worked with ANZ Banking Group, HSBC, ABN AMRO Bank, ICICI Bank, Bank Internasional Indonesia & Mashreq Bank PSC. His experience includes diverse categories including Corporate & Institutional Banking, Risk analysis, Client Portfolio Management, and Relationship Management.
Over the years, Mr. Patankar has contributed extensively to organizations at key inflection points – during a strategic business transition, acquisition, setting up of a bank or a recovery and sale to ARCs.
He is a qualified Chartered Accountant and enjoys reading, travelling and cooking.
Mr. Santosh B. Parab
Mr. Santosh B. Parab leads the Legal and Compliance functions at LTFS in his capacity as the Group General Counsel.
He has over 28 years of experience with expertise in varied domains – Retail, Wholesale and Banking Finance, Borrowings & Treasury, Mergers & Acquisitions of entities in the Financial Sector, Equity Raising, Private Equity, Litigation, Recovery and Resolution.
Prior to joining LTFS, Mr. Parab worked with IDBI, IDFC, IDFC Bank and Altico Capital in different roles across the legal function. He has played a pivotal role in all major milestones achieved during his tenure with previous organisations including banking license, acquisitions and divestments of various financial entities, mergers of bank with NBFC, working on resolution plan among others.
Mr. Parab holds a Master's degree in law from Mumbai University, and a Bachelor's degree in commerce from Mumbai University.
Mr. Abhishek Sharma
Chief Digital Officer
Mr. Abhishek Sharma leads the Group’s Strategy and the digital transformation initiative. He has been associated with the Group in the product development and sales functions in Rural Finance and Housing Finance.
Mr. Sharma has 15 years of experience in corporate strategy, product development and sales leadership. Previously, he served as a Captain in the Indian Army for five years.
Mr. Sharma has a Post Graduate Diploma in Business Management from XLRI, Jamshedpur and holds a Bachelor’s Degree in Business Economics from the Delhi University. He loves reading and is a sports enthusiast.
Ms. Apurva Rathod
Group Head - Secretarial & CSR and
Ms. Apurva Rathod is the Company Secretary - L&T Finance Holdings Limited and the Group Head – Secretarial & CSR and Sustainability, L&T Financial Services.
With an experience of around 20 years, she has worked across Legal, Compliance, Risk Management and Corporate Secretarial functions. She moved to LTFS from Fidelity in 2012 and has been at the helm of Corporate Secretarial function since 2016. In addition, she has also been leading the Group CSR & Sustainability initiatives of LTFS since March 2020.
She has been spearheading the strategic initiative of corporate restructuring of various lending entities within LTFS and has also played a pivotal role in strengthening the corporate governance framework through robust processes and controls.
As the Head of CSR initiatives, she has been instrumental in scaling up “Digital Sakhi” – the flagship program of LTFS aimed at Digital Financial Inclusion of rural women and creating sustainable livelihoods. The program has won prestigious awards in the categories of women empowerment and digital literacy, across multiple forums.
She is also leading the strategy and implementation of LTFS' sustainability initiatives and has been a key part of its journey in addressing various environmental, social and governance risks across business platforms.
In her previous stints, she has been associated with the mutual fund arm of Fidelity International in India and Kotak Mahindra AMC Limited and has played a key role in corporate M&A.
Ms. Apurva is a member of the Institute of Company Secretaries of India and holds a Bachelor's degree in law and a Bachelor's degree in commerce from the University of Mumbai.